No. I got a math degree. Which means if I’m doing a problem on the chalk board it’s over 50% I’m going to / when I should * or + where I should -. It’s like a form of dyslexia. Math professors are a lock. Usually we’d do O/Us with them.
cliffs: oops
Interest implicit in a lease
8%
I know, smh.
I’m not trying to say tenants need landlords or landlords create housing or anything - just saying 8%.
And once again, that’s a different problem. How is a car not like a lot? Once again, we got a sticky word. Let’s see if we can just lose the word ‘interest’. Let’s call it taxfeesalsa.
The taxfeesalsa of renting that particular house you did is 61%.
The taxfeesalsa of buying anything is 0%.
The taxfeesalsa of any loan is that loan’s interest rate.
Don’t you think it is at all odd that buying is 0%, a mortgage is 4%, a credit card is 18%, the payday loan place 25%, the “break your legs” guy 50%, and renting is 61%?
Or could we call it the Mconbcobt… “marginal cost of not buying” / “cost of buying” / time… would that work for you ???/?
No, of course I have no problem with defining made up words any way you want. And I think the whole exercise is silly.
“Paying someone a lot of money to borrow something that gets worth more while you are borrowing it is a much worse deal than just buying it.”
I think is just fine.
My point all along here has been to showcase the comparative quantity of this “lot of money”. For example: some fool up thread, after I explained that the landlords and the owners of credit card companies are in the same boat, started musing how effective interest of rent must (by ECON101 “wisdom”) be less than the CCs because I didn’t understand what collateral is.
Aside: just like liars think everyone else is lying, and bad faith posters think everyone else is posting in bad faith… the incredible ignorant think everyone else is incredibly ignorant. Which it what makes it so LOL-tastical when they put on the mantel of ECON101wysdumb.
Also… quick and lazy perusal of the interwebs finds in CA that… personal loans <$2500 are capped at 372%, personal loans $2500 to $10000 at 36%, Exempt lenders (real estate, credit cards, store cards) at 15.25%, and non-exempt lenders (most of the rest) at 10%.
So… do you find it at all surprising that…
- The level of extraction by the landlords is higher than by the owners of the credit card companies, 3.4x more in the example given, not less.
- Collateralization alone doesn’t mean a lower rate of extraction. Mortgages are below credit cards and pay day loans, while “break your legs” and rent are above credit cards and pay day loans (>$2499).
- That the level of extraction by the landlords would be illegally high (in CA) for any of the loan sharks (except for pay day loans <$2500)… and not marginally but substantially.
- That the level of extraction by the landlords is substantially higher than an anecdotal level of extraction of the illegal loan sharks.
- That the level of extraction by the landlords vary wildly all over the map, while the level of extraction by the loan sharks is very close to the same everywhere.
- And would you be surprised, if it turns out that… the levels of extraction at the point of production are substantially higher than the levels of extraction of the landlords.
- And finally, IYO, at what level of abstraction are we unquestionably talking about Debt Peonage.
Don’t overthink it. Neglected real estate doesn’t qualify for traditional financing, and there’s no demand for them with cash buyers. That’s why nobody is buying or selling. With very few exceptions, I’m sure these stockpiles of so-called “vacant housing” is not actually in a livable state.
I suppose there’s a world in which you come up with a plan to have the government take ownership of those “abandoned” properties by force and then pay whatever cost is necessary to put them into service, but I’m sure you can imagine the fallout of such a program. Plus, I think many of you have no earthly idea how much it costs to rehab and maintain real estate.
Or… we could just not go back to the bad old days when there used to be evictions.
Squatters occupy, do the rehab & maintenance themselves, and after X years of paying the property taxes gain title by adverse possession (details vary by jurisdiction). Then we’d only need a tweek in the laws to allow squatters access to insurance coverage.
Live is like 10000% better now. Let’s all hold the line… and not allow the forces of evil to drag as back to those bad old days.
Sounds like a win-win-win to me !!!1!
Sure. But some of us do. I worked construction, a lot of that was demo, rehab, and condo conversion. @microbet is in the industry. FYI: in San Diego, with few exceptions, MFRs have only water/sewer included in the rent, while SFRs have no utilities included.
I’ve already told you this earlier and you ignored it then, but if this were reality, the people you’re trying to help would lose those abandoned homes 100% of the time to people who run professional operations.
Oh? Was this before or after your tenure as a math professor?
On the next episode of House Hunters, we meet Sabo and his girlfriend. She’s a Yoga instructor, and he yells at clouds for a living. They’re looking for a beach home with nice views, and their budget is $230,000.
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Legit lol
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All of them? All the time? LOL. And even if it was always that way 100% of the time, things would still be 10000% better anyways during that period between when squatters occupying the vacant useless housing, and when the occupation fails. But, you really meant to say this instead, anyways…
WTF BBQ ???/? Scroll back… I’m not the one who calls you evil/etc. I’m the one who said at the very top of the thread that nothing discussed ITT should be personal like that. And you agreed with me. So why you making shit up about me to troll? And was it really necessary to include a gf in your make up stuff. My mom’s dead, I’d prefer you use her instead. That said, it’s no big deal. It’s all just pushing Unicode, and I’m not “offended” at all. I got nothing against humor and as long as it always comes with content too, what some call trolling.
All I’m saying that wasn’t actually funny. Step up your game !!!1!
But since you asked…
I was never a math professor, and I don’t have the skillz to do that tenure track. I could be an adjunct slave, and teach at 3-4 JCs at one time. But I can make more money doing almost anything else. I got a BA in math, and I was paid to tutor by UC. That’s it.
The gf used to be a sole proprietor in the pet service industry. Now she is unemployed. My house has an obstructed view of both the Pacific Ocean (~100 yds west), and Mission Bay (~50 yds to the east) in San Diego. I paid $130000 for it.
Quoted for anyone suggesting Sabo doesn’t have a vision for how this works. This sounds excellent to me.
Like a sucker. You could have just taken a vacant house for free!
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Wasn’t trying to be mean to your girlfriend. I’m sure she’s a nice lady.
I’m not unconvinced that you do indeed yell at clouds for a living, but the House Hunters meme never fails.
“He’s a preschool teacher, and she makes winter coats for homeless penguins. They’d really like to be within walking distance to downtown, but are also looking for a home on a few acres of wooded lot to drink in the nature views. Their budget is $900,000.”
Edit: Also I went back and looked:
No. I got a math degree. Which means if I’m doing a problem on the chalk board it’s over 50% I’m going to / when I should * or + where I should -. It’s like a form of dyslexia. Math professors are a lock. Usually we’d do O/Us with them.
Perhaps you can see why I’d misinterpret that as you claiming to be a math professor, but I see now what you were going for.
Well, you are forgetting location, location, location. And you are forgetting that back in the bad old days, the landlords would bring the violence.
It wasn’t particularly a bad decision, considering how we were confronted only with lose-lose-lose options back in the bad old days. My mortgage + PMI has always been less than 2/3 of what comp rent would be, and sometimes as low as 1/10. And… I’ve taken out significantly more than the purchase price via refi.
So could you rent an apartment, stop paying rent, start squatting, do the maintenance and pay the property taxes for a few years, and then you own it?
What happens if you’re renovating a rental property you own and squatters move in one night? Hey it’s unoccupied, shrug.
OK, you were referring to a show I’ve never seen. Makes more sense now. That went… zoom over my head,
Are you back to asking other peeps to google your shiz for you?
Well, you got your terms mixed up. Try ‘people’ instead of ‘squatters’… when you go google your own shit for yourself.
You used the term “squatters” in your goddamn post? Fuck off man.
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